Ramsey Quantitative Systems Has $8.52 Million Stock Holdings in Ready Capital Co. (NYSE:RC)

Ramsey Quantitative Systems lessened its holdings in Ready Capital Co. (NYSE:RC - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,249,003 shares of the real estate investment trust's stock after selling 88,775 shares during the quarter. Ready Capital makes up approximately 12.1% of Ramsey Quantitative Systems' holdings, making the stock its 2nd biggest holding. Ramsey Quantitative Systems owned about 0.74% of Ready Capital worth $8,518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RC. Barclays PLC raised its stake in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock worth $3,699,000 after buying an additional 326,467 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Ready Capital by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust's stock valued at $14,257,000 after acquiring an additional 195,663 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Ready Capital by 84.0% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust's stock worth $10,989,000 after acquiring an additional 657,465 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ready Capital by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust's stock worth $2,570,000 after purchasing an additional 112,934 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust's stock worth $29,292,000 after buying an additional 150,479 shares during the last quarter. Institutional investors and hedge funds own 55.87% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a "market outperform" rating on the stock in a research report on Thursday, December 12th. UBS Group cut their target price on shares of Ready Capital from $8.50 to $7.50 and set a "neutral" rating for the company in a research note on Friday, November 15th. Keefe, Bruyette & Woods dropped their price target on Ready Capital from $6.75 to $6.25 and set an "underperform" rating for the company in a report on Tuesday, January 14th. Finally, B. Riley restated a "neutral" rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $8.61.

Ready Capital Price Performance

NYSE:RC traded down $0.13 during mid-day trading on Wednesday, reaching $6.56. The stock had a trading volume of 1,603,963 shares, compared to its average volume of 1,894,434. Ready Capital Co. has a 12 month low of $6.39 and a 12 month high of $9.53. The stock has a market capitalization of $1.11 billion, a PE ratio of -9.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a 50-day simple moving average of $6.96 and a two-hundred day simple moving average of $7.46.

Ready Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.24%. Ready Capital's dividend payout ratio (DPR) is currently -142.86%.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.